tag:blogger.com,1999:blog-33150821.post4746276494695939681..comments2023-05-15T03:02:07.588+12:00Comments on Better Democracy NZ: Downgrade would hit hardSteve Baronhttp://www.blogger.com/profile/18231150911705855174noreply@blogger.comBlogger2125tag:blogger.com,1999:blog-33150821.post-36984062013733821232009-05-22T17:03:00.880+12:002009-05-22T17:03:00.880+12:00National is obviously concerned about this and by ...National is obviously concerned about this and by all accounts their budget will be considerate of this fact. How will they react, what will they do, if there is a downgrade regardless?Steve Baronhttps://www.blogger.com/profile/18231150911705855174noreply@blogger.comtag:blogger.com,1999:blog-33150821.post-21093683984419850902009-05-14T20:20:00.000+12:002009-05-14T20:20:00.000+12:00Yes I wrote a letter to the Taranaki Daily News Ed...Yes I wrote a letter to the Taranaki Daily News Editor three weeks ago that was published just today 14/05/2009 saying just that..<br /><br />Here is the Letter.<br /><br />Debt difficulties<br /><br />BECAUSE of the deepening recession foreign banks are now increasingly unwilling to roll over debt.<br />New Zealand and New Zealand companies dependent on raising overseas capital through debt could soon find themselves starved of foreign investment.<br />This reluctance for foreign banks to roll over debt could soon shrink New Zealand's money supply and cause its current economic contraction to become even worse. This will be inevitable if New Zealand loses its current Standard and Poor's AA+ rating because of the large amounts New Zealand and New Zealand companies are now borrowing to roll over debt, including Fonterra.<br /><br />Its looking now more likely a downgrade is inevitable...Rusty Kanehttps://www.blogger.com/profile/09549765146351589892noreply@blogger.com